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TODAY'S OTHER NEWS

Brexit uncertainty continues to weigh heavily on the housing market

Confidence in the UK housing market has slumped amid Brexit uncertainty, according to Paragon’s latest Financial Adviser and Confidence Tracking (FACT) Index, a regular survey of over 200 UK mortgage intermediaries. 

Mortgage advisers predict that property price growth will remain subdued, while they expect buyer demand to remain virtually unchanged in the first quarter of 2019, as political and economic uncertainty adversely affects the market.

Reflecting on the second half of 2018, more than half - 57% - of mortgage advisers felt that Brexit had a negative impact on demand for properties, 56% said it had placed downward pressure on property prices and 44% reported a dampening effect on the availability of property.

In contrast, just 5% highlighted a positive impact against any of these factors.

John Heron, managing director of mortgages at Paragon, commented: “Brexit uncertainty is causing a measurable slowdown across the UK housing market as potential buyers and sellers adopt a ‘wait and see’ approach.

“As political negotiations move into the final phase, hopes are high for a workable solution and a much-anticipated Brexit bounce.”

Poll: Will the UK housing market prosper after Brexit?

PLACE YOUR VOTE BELOW

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    Cheaper property = higher yields, buy with the long term view and long term income.

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    I am not sure where they are getting their info from but we have just had a record month of sales in January. Property is selling at asking price and even higher. The market is buoyant!

    If individual lenders are concerned about the lack of business coming their way then maybe they should look at all the hoops they are putting buyers through just to get a mortgage!

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    what has brexit got to do with it--stamp duty and s24 etc

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